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Taxpayers have lost out on as much as £1 billion as a result of the botched
privatisation of the Royal Mail, say MPs.

In damning findings that will heap pressure on Vince Cable, the business
secretary, a parliamentary inquiry into the sale of Royal Mail shares found
that ministers were overly cautious in setting a price and were given poor
advice.

The cross-party business select committee said that taxpayers had lost
“significant value” after shares were sold for 330p each. The price shot up
to 618p before falling to about 473p now.

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